WS Investor
04 Sep 2026, 09:05
Gold and Brent Oil Edge Lower as Markets Weigh Fed Outlook and U.S.-Iran Conflict
Gold and Brent crude futures edged lower Friday, although both remain supported by shifting Federal Reserve expectations and escalating U.S.-Iran tensions.
December gold futures slipped 0.26% to $4,528 per ounce, while Brent crude fell 0.47% to $95.07 per barrel. Despite the pullback, both commodities remain on track for weekly gains.
Gold Holds Above $4,500
Gold jumped more than 2% Thursday after Fed Governor Christopher Waller indicated he would support keeping rates unchanged in September if inflation continues to cool. His comments reduced rate-hike expectations and pushed U.S. Treasury yields and the dollar lower.
The move partially reversed pressure following Fed Chair Kevin Warsh’s hawkish Jackson Hole speech, which had driven Treasury yields higher and weighed on bullion.
Attention now turns to Friday’s U.S. jobs report. Economists expect payrolls to rise by around 56,000 in August after falling by 23,000 in July. A weaker report could further reduce expectations for a Fed hike and support gold.
Brent Near $95 on U.S.-Iran Supply Risks
Brent remains elevated following renewed U.S. attacks on Iran and retaliatory hostilities, which have increased concerns about oil supplies through the Strait of Hormuz.
Shipping activity through the critical waterway remains heavily disrupted, while Iranian crude exports have also fallen sharply. Brent is up roughly 7.6% this week, with WTI gaining around 10.4%.
For gold, the key near-term drivers are U.S. employment data, Treasury yields and Fed expectations. For oil, attention remains firmly on the U.S.-Iran conflict and whether disruptions to Gulf exports intensify or begin to ease.
Gold and Brent crude futures edged lower Friday, although both remain supported by shifting Federal Reserve expectations and escalating U.S.-Iran tensions.
December gold futures slipped 0.26% to $4,528 per ounce, while Brent crude fell 0.47% to $95.07 per barrel. Despite the pullback, both commodities remain on track for weekly gains.
Gold Holds Above $4,500
Gold jumped more than 2% Thursday after Fed Governor Christopher Waller indicated he would support keeping rates unchanged in September if inflation continues to cool. His comments reduced rate-hike expectations and pushed U.S. Treasury yields and the dollar lower.
The move partially reversed pressure following Fed Chair Kevin Warsh’s hawkish Jackson Hole speech, which had driven Treasury yields higher and weighed on bullion.
Attention now turns to Friday’s U.S. jobs report. Economists expect payrolls to rise by around 56,000 in August after falling by 23,000 in July. A weaker report could further reduce expectations for a Fed hike and support gold.
Brent Near $95 on U.S.-Iran Supply Risks
Brent remains elevated following renewed U.S. attacks on Iran and retaliatory hostilities, which have increased concerns about oil supplies through the Strait of Hormuz.
Shipping activity through the critical waterway remains heavily disrupted, while Iranian crude exports have also fallen sharply. Brent is up roughly 7.6% this week, with WTI gaining around 10.4%.
For gold, the key near-term drivers are U.S. employment data, Treasury yields and Fed expectations. For oil, attention remains firmly on the U.S.-Iran conflict and whether disruptions to Gulf exports intensify or begin to ease.
